Inscription Capital LLC Purchases 32,434 Shares of Gates Industrial Corporation PLC $GTES

Inscription Capital LLC raised its position in Gates Industrial Corporation PLC (NYSE:GTES) by 239.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,956 shares of the company’s stock after acquiring an additional 32,434 shares during the quarter. Inscription Capital LLC’s holdings in Gates Industrial were worth $1,141,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Gates Industrial by 9.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,483 shares of the company’s stock valued at $1,155,000 after purchasing an additional 4,017 shares during the period. Amalgamated Bank grew its position in shares of Gates Industrial by 12.0% in the 3rd quarter. Amalgamated Bank now owns 79,563 shares of the company’s stock worth $1,975,000 after buying an additional 8,544 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Gates Industrial by 42.9% during the third quarter. Sequoia Financial Advisors LLC now owns 16,579 shares of the company’s stock valued at $411,000 after buying an additional 4,978 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of Gates Industrial by 44.0% during the third quarter. Evergreen Capital Management LLC now owns 16,984 shares of the company’s stock valued at $422,000 after acquiring an additional 5,191 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Gates Industrial by 5.9% in the third quarter. Versant Capital Management Inc now owns 13,814 shares of the company’s stock worth $343,000 after acquiring an additional 775 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gates Industrial

In related news, CFO Lawrence B. Mallard sold 22,188 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $22.77, for a total value of $505,220.76. Following the sale, the chief financial officer owned 177,627 shares in the company, valued at $4,044,566.79. This represents a 11.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GTES shares. Wells Fargo & Company started coverage on shares of Gates Industrial in a research report on Thursday, November 13th. They set an “equal weight” rating and a $23.00 price objective on the stock. Royal Bank Of Canada reduced their price target on shares of Gates Industrial from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Citigroup restated a “buy” rating on shares of Gates Industrial in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Finally, UBS Group decreased their target price on Gates Industrial from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.09.

Gates Industrial Trading Down 1.2%

NYSE:GTES opened at $22.49 on Wednesday. The firm has a market capitalization of $5.81 billion, a P/E ratio of 24.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.52 and a quick ratio of 2.50. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $26.46. The company’s 50-day simple moving average is $22.11 and its 200 day simple moving average is $23.81.

Gates Industrial Profile

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.